166                               LAWS OF MARYLAND                        [CH. 126

(30) years from their date or dates, as may be determined by the
Authority. The bonds of each issue may be made redeemable before
maturity at the option of the Authority at such price or prices and
under terms and conditions as may be fixed by the Authority prior
to the issuance of the bonds. The Authority shall determine the form
of the bonds, including any interest coupons to be attached thereto,
and shall fix the denomination or denominations of the bonds and
the place or places of payment of principal and interest which may
be at any bank or trust company within or without the State. The
payment of principal and interest of the bonds hereby authorized
may be made in any lawful medium. The Authority shall determine
the manner of executing the bonds which may be by facsimile signa-
ture of its Chairman, and the manner of executing the interest
coupons attached thereto which also may be by fascimile signature
of its Chairman; the official seal of the Authority shall be affixed
to the bonds and they shall be attested by its Secretary. In case any
officer whose signature or a facsimile of whose signature shall appear
on any bonds or coupons shall cease to be such officer before the de-
livery of such bonds, such signature or such facsimile shall never-
theless be valid and sufficient for all purposes the same as if he had
remained in office until such delivery.

(d)  All revenue bonds, certificates or other evidence of indebted-
ness issued under the provisions of this Act shall have and are hereby
declared to have all the qualities and incidents of negotiable instru-
ments under the negotiable instruments law of this State.

(e)  The revenue bonds hereby authorized may be issued in coupon
or in registered form, or both, as the Authority may determine, and
provision may be made for the registration of any coupon revenue
bonds as to principal alone and also as to both principal and interest,
and for the reconversion into coupon revenue bonds of any revenue
bonds registered as to both principal and interest.

(f)  The Authority may sell such revenue bonds in such manner,
either at public or private sale, and for such price, as it may deter-
mine to be for the best interests of the Authority, but no such sale
shall be made at a price so low as to require the payment of interest
on the money received therefor at more than five per centum (5%)
per annum, computed with relation to the absolute maturity of the
bonds in accordance with standard tables of bond values, excluding,
however, from such computation the amount of any premium to be
paid on redemption of any revenue bonds prior to maturity. None of
the provisions of Sections 32 to 34, inclusive, of Article 31 of the
Annotated Code of Maryland (1951 Edition) and any amendments
thereto shall apply to the revenue bonds issued under the provisions
of this Act.

(g)  The proceeds of the revenue bonds of each issue shall be used
solely for the payment of the cost of the project or projects for which
such bonds have been issued, and shall be distributed in such manner
and under such restrictions, if any, as the Authority may provide in
the resolution authorizing the issuance of such bonds or in the trust
agreement hereinafter mentioned securing the same. If the proceeds
of the bonds of any issue, by error of estimates or otherwise, shall
be less than such cost, additional bonds may in like manner be issued